Lucid Stock Bounces on Earnings, $1.5 Billion Investment

Lucid Group Inc (NASDAQ:LCID) stock is 5.5% higher to trade at $3.17 at last check and seeing unusually high options volume after earnings. In addition to a second-quarter revenue beat and reaffirmed outlook of 9,000 EVs produced in 2024, the electric vehicle (EV) name received a $1.5 billion investment from Saudi Arabia's Public Investment Fund to accelerate production of a new SUV. Still deep in penny stock territory, Lucid Group stock is also down over 50% over the last 12 months. Plus, the 280-day movin ...